News & Insights

More than $30 million worth of trucks to crack under the hammer at Ritchie Bros Gold Coast auction

Original source: The Goldcoast Bulletin

MORE than 2000 people will battle it out as a truckload of heavy machines go under the hammer on the Gold Coast today.

Ritchie Bros auctions has been hosting the event at the 40 acre Yatala auction yard for two decades but today’s auction will be the biggest one of the year, according to Ritchie Bros auction co-ordinator Richard Tucker.

More than $30 million worth of mining and construction machinery will change hands.

Mr Tucker said the demand of heavy machinery and construction equipment was driven by a current lack of global supply.

The D9T bull dozer which costs more than $500,000 is one of the showpieces the heavyweight auctioneers Ritchie Bros has on offer.

Mr Tucker said the expensive dozer was just one of 1000 items up for grabs.

The yellow piece of iron dwarfs your average truck and is almost 4m high and weighs 48 tonnes.

Diggers, loaders, and even an amphibian vehicle are other also expected to change hands.

“We’ve got a great mix of yellow iron and there is definitely a piece for everyone,” Mr Tucker said.

Mr Tucker said everyone was welcome to come along and ‘kick the tyres’.

“It’s going to feel a lot like Christmas for some bidders especially with a lot of pent up global demand for second-hand machinery,” he said.

“The auditorium can only seat 1000 but there is plenty of standing space.”

Mr Tucker said bidders had registered from Poland, Ireland, Vietnam, the Middle East, America and China.

Heavy machinery hire business, IronCapital said there was a strong demand for heavy machinery in Queensland and northern New South Wales.

IronCapital director Richard Lewis said the auction is visually spectacular and would attract a lot of locals.

“Most of our equipment is located in Queensland because there is a huge demand for it here with road works and infrastructure,” Mr Lewis said.

“It is all things to do with civil construction and earth moving, there is a demand from anything for dump trucks to excavators.

“These buyers are after anything that can carry or move dirt.”

Mr Lewis said the demand followed road work projects between Brisbane and Sydney and rail works between Brisbane and Melbourne.

“There is a lot going on infrastructure wise and when a business wins a big job they need the trucks to take it on.

“They might only have five trucks but with a new job they might need ten.”

Mr Lewis said the machinery market was booming.

“The government is spending a fortune on infrastructure, especially the Pacific Highway where there are up to six section where they are duplicating lanes and widening the gateway.

“It’s quite clear that the influx of jobs shows the demand for these machines and explains why the market for them is so strong.”